The Solana non-fungible token (NFT) marketplace has recently acquired a cryptocurrency trading application as part of its plan to diversify beyond NFT offerings, particularly as other marketplaces struggle amid ongoing market challenges.
This acquisition broadens the platform’s capabilities to support over 8 million tokens across nearly all major blockchains, as noted in a recent update.
“No bridges. No centralized exchanges. This is a significant step towards realizing our goal of creating the premier platform for trading all assets across all chains,” the company stated.
Image credit: Jack Lu
The acquired platform boasts nearly 1 million users, providing access to any token on 10 of the largest blockchains, all linked through a universal USDC balance.
This platform is among several in the crypto space aiming for complete chain abstraction—removing the need for users to choose the appropriate wallet, ensure they have sufficient gas fees, and utilize a reliable bridge before they can finally make their token purchases.
The platform’s CEO expressed optimism that this integration will encourage more of the 500 million users currently dependent on centralized exchanges to transition to more blockchain-native platforms.
NFT Marketplaces Close Amid Market Downturn
He also shared that the marketplace generated $75 million in revenue in 2024, and he hopes the new acquisition will further enhance those figures.
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The expansion occurs as several NFT marketplaces have closed their doors in recent months.
Notable companies such as DraftKings, GameStop, and the cryptocurrency exchange Bybit have all ceased operations of their NFT marketplaces, with Bybit attributing its closure to declining trading volumes in a recent announcement.
Additionally, X2Y2 recently stated that it would shut down its NFT marketplace by April 30 to shift focus toward artificial intelligence.
So far in 2025, NFT marketplaces have recorded $1.6 billion in sales across 14 million transactions, according to recent data.
However, monthly sales volumes have consistently declined throughout 2025, and the $1.6 billion total is far from reaching the $8.9 billion benchmark set in 2024, let alone the all-time high of $23.7 billion recorded in 2022.
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